Tata Steel Ltd has announced that the directors of Tata Metaliks Ltd and Tata Metaliks Kubota Pipes Ltd have approved a proposal to merge with Tata Steel.
This merger will now go through a Scheme of Amalgamation, which is to be sanctioned through a court approval process.
Tata Metaliks Ltd (TML) was established in 1990, and has recently commissioned a sinter plant at its Kharagpur site in India. This is expected to produce an annual output of 0.4Mt/y of sinter. Its products are sold to foundries all over India.
Tata Metaliks Kubota Pipes Ltd (TMKPL) is a 100% unlisted subsidiary of TML, and was established in 2007. It was set up as a joint venture between TML, Kubota (Japan), and Metal One (Japan) to produce ductile iron pipes used for water distribution, mainly for the infrastructure sector.